London Circuit Car Parks fail to sell

Pandy said :

Walk down London Circuit near the Law Courts. Dead after hours. People prefer the Braddon Side of town

Totally agree, and with the new Braddon developments the true city centre will shift north a bit.

rosscoact said :

You’re a bit confused there Al

IIRC the site proposed for ACT government building is near Constitution avenue. These two sites are on either side of Northbourne avenue opposite sydney and Melbourne buildings

Fair ’nuff.

couldn’t they just formalise the park as “Friday Night Fight Club” and charge extra for spectators?

Regarding carparking, the developer must replace what is there and make it available to the public. On top of this the developer must also provide the additional car spaces required by the hotel/ apartments etc.

Once the development is complete the public will have the same number of spaces as there are now.

Also these sites have nothing to do with the proposed ACT Government building.

Walk down London Circuit near the Law Courts. Dead after hours. People prefer the Braddon Side of town

From what I’ve heard there are quite a few interested parties for the ACT Government’s proposed fortress, but with a guaranteed tenant for pretty much the entire life of the building that’s not exactly a shock.

The passing in of the twin London Cct sites is not that much of a surprise, particularly given the Section 63 site remains as a carpark with the developers being unable to attract tenants.

You’re a bit confused there Al

IIRC the site proposed for ACT government building is near Constitution avenue. These two sites are on either side of Northbourne avenue opposite sydney and Melbourne buildings

Interesting that even the site with the guaranteed tenant – the ACT Govt itself – passed in… Must be something about the conditions that just didn’t stack up as a workable proposition.

Of course the Govt can always go ahead and build their nice shiny headquarters themselves, but with their aversion to borrowing to build assets, how could they afford it?

Maybe someone could buy the sites and turn them into sorely needed car parks.

Wait…

I’m rather relieved too (for the moment). I vaguely remember some statement that parking spaces wouldn’t be lost in having them built upon because the hotels would have to have underground parking beneath them, but that’s surely just going to be just for the patrons of the hotel.

Maybe the interstate hotel operators decided to steer clear after they looked at the location – close to all those run down buildings and empty shops.